As of December 31, 2025, the Company’s principal subsidiaries are as follows: | | | | | | | | | | | | | | | Percentage of legal | | | | | Date of | | Place of | | ownership | | | Entity | | incorporation | | incorporation | | by the Company | | Principal activities | Adagene (Hong Kong) Limited | | December 12, 2011 | | Hong Kong | | 100 | % | Investment holding, and research and development of innovative medicines | Adagene Incorporated | | September 20, 2017 | | The United States of America | | 100 | % | Research and development of innovative medicines | Adagene (Suzhou) Limited | | February 28, 2012 | | The People’s Republic of China (“PRC” or “China”) | | 100 | % | Research and development of innovative medicines | Adagene Australia PTY Ltd. | | May 30, 2018 | | Australia | | 100 | % | Research and development of innovative medicines | Adagene PTE. Ltd. | | March 27, 2020 | | Singapore | | 100 | % | Research and development of innovative medicines | Adagene AG | | August 31, 2020 | | Switzerland | | 100 | % | Research and development of innovative medicines | Adagene Project C1 PTE. Ltd. | | March 25, 2022 | | Singapore | | 100 | % | Research and development of innovative medicines |
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